In yesterday’s Wall Street session, Valley National Bancorp (NASDAQ:VLY) shares traded at $7.75, up 2.11% from the previous session.
VLY stock price is now 0.96% away from the 50-day moving average and -12.12% away from the 200-day moving average. The market capitalization of the company currently stands at $3.94B.
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With the price target of $8, Barclays recently initiated with Underweight rating for Valley National Bancorp (NASDAQ: VLY). On December 01, 2023, Citigroup recently initiated its ‘Neutral’ rating on the stock quoting a target price of $9.50, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, CHILLURA JOSEPH, SEVP, CML Banking President sold 49,715 shares of the company’s stock on Mar 11 ’24. The stock was sold for $406,669 at an average price of $8.18. Upon completion of the transaction, the SEVP, CML Banking President now directly owns 545,249 shares in the company, valued at $4.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 29 ’24, Director WILLIAMS SIDNEY S bought 673 shares of the business’s stock. A total of $6,979 was incurred on buying the stock at an average price of $10.37. This leaves the insider owning 21,605 shares of the company worth $0.17 million. A total of 15.83% of the company’s stock is owned by insiders.
During the past 12 months, Valley National Bancorp has had a low of $6.39 and a high of $11.22.
According to the Banks – Regional Company, earnings per share came in at 0.28, missing analysts’ expectations of 0.29 by -0.01. This compares to $0.28 EPS in the same period last year. The net profit margin was 12.44% and return on equity was 6.77% for VLY. The company reported revenue of $828.66 million for the quarter, compared to $720.23 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.05 percent. For the current quarter, analysts expect VLY to generate $461.5M in revenue.
